Market Signal Briefing

March 04, 2026 04:39 ET  | Source: Shore Capital Stockbrokers Limited

FORM 8.5 (EPT/RI)

PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY
Rule 8.5 of the Takeover Code (the “Code”)

1.        KEY INFORMATION

(a)        Name of exempt principal trader:Shore Capital Stockbrokers Ltd(b)        Name of offeror/offeree in relation to whose relevant securities this form relates:
        Use a separate form for each offeror/offereeCAB Payments Holdings Plc(c)        Name of the party to the offer with which exempt principal trader is connected:CAB Payments Holdings Plc(d)        Date dealing undertaken:03 March 2026(e)        Has the EPT previously disclosed, or is it today disclosing, under the Code in respect of any other party to this offer?No 2.        DEALINGS BY THE EXEMPT PRINCIPAL TRADER

(a)        Purchases and sales

Class of relevant securityPurchases/ sales Total number of securitiesHighest price per unit paid/receivedLowest price per unit paid/receivedOrdinaryPurchases11,94986.026p86.026pOrdinarySales11,94986p86p (b)        Derivatives transactions (other than option)

Class of relevant securityProduct description
e.g. CFDNature of dealing
e.g. opening/closing a long/short position, increasing/reducing a long/short positionNumber of reference securitiesPrice per unit      (c)        Options transactions in respect of existing securities

(i)        Writing, selling, purchasing or varying

Class of relevant securityProduct description e.g. call optionWriting, purchasing, selling, varying etc.Number of securities to which option relatesExercise price per unitType
e.g. American, European etc.Expiry dateOption money paid/ received per unit         (ii)        Exercising

Class of relevant securityProduct description
e.g. call optionNumber of securitiesExercise price per unit     (d)        Other dealings (including subscribing for new securities)

Class of relevant securityNature of dealing
e.g. subscription, conversionDetailsPrice per unit (if applicable)     The currency of all prices and other monetary amounts should be stated.

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

3.        OTHER INFORMATION

(a)        Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
If there are no such agreements, arrangements or understandings, state “none”None

(b)        Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:
(i)        the voting rights of any relevant securities under any option; or
(ii)        the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state “none”None

Date of disclosure:04 March 2026Contact name:Clare Gamble-DaleTelephone number:0207 601 6132 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at [email protected]. The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s dealing disclosure requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

DFI Retail Group Holdings Limited (DFIHY) Q4 2025 Earnings Call March 3, 2026 8:30 PM EST

Company Participants

Karen Chan - Strategy & Investor Relations Director
Scott Price - Group CEO & Director
Tom Cornelis Van der Lee - Group CFO & Director

Conference Call Participants

Ming Jie Kiang - CLSA Limited, Research Division

Presentation

Karen Chan
Strategy & Investor Relations Director

Good morning, everyone. Thank you for attending the DFI Retail Group 2025 Full Year Results Presentation. I'm Karen Chan, Strategy and Investor Relations Director. Joining us today is Scott Price, Group Chief Executive; and Tom Van der Lee, Group Chief Financial Officer, who will be providing remarks on our full year results, followed by a Q&A session. Today's presentation is being webcast in its entirety. In addition, the full text of our results announcement and slide presentation are uploaded on to our IR website.

And before we start, I would like to remind you of the following regarding information to be provided during the presentation. The information about to be presented is for information purposes only and is not intended to be investment advice for any person. There's no intention to imply for any dealings in any securities. There may be forward-looking statements mentioned in the presentation materials, which include statements regarding our intent, belief, expectation with respect to DFI Retail Group businesses operations, market conditions, et cetera. You're expressly advised not to rely on these forward-looking statements as they are subjective views, which are subject to risks and uncertainties.

And with that, I'll pass it over to Scott. Scott, please.

Scott Price
Group CEO & Director

Good morning, everyone. Thank you, Karen. A pleasure to be here talking about our full year of 2025 results and also sharing with you some of the insights that we gleaned from the second half of

U.S. equity futures pointed to another day of falls. Stocks in Japan and Korea fell dramatically, but selling in European shares eased at market open.

2.35K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of MPLX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Successful investing involves patiently holding shares in a growing business -- that's all there is to it. But sometimes, market pullbacks create rare opportunities to buy shares in a competitively positioned business at a valuation that may underestimate its future growth, setting up even better returns for patient investors.

MercadoLibre (MELI 3.59%), Coupang (CPNG 3.15%), and Airbnb (ABNB 0.17%) are three such stocks that are currently underappreciated by the market. Here's why investors may want to consider adding these top stocks to their portfolio.

Image source: Getty Images.

1. MercadoLibre Shares of MercadoLibre are up more than 1,500% over the last 10 years, but the stock's pullback has brought its valuation down to the lowest level in years. This is a consistent high-growth business that is dominating Latin America's e-commerce and fintech markets, presenting a compelling investment opportunity.

Its competitive moat is based on the combination of valuable services it offers to customers: payments, credit, and membership benefits that drive higher loyalty and shopping frequency. These services, along with its growing advertising business, boost the company's profits, which it can reinvest in improvements to the customer experience, creating a powerful flywheel effect.

Today's Change

(

-3.59

%) $

-63.86

Current Price

$

1713.14

Revenue rose 45% year over year in the fourth quarter. Unit shipping costs fell in Brazil, one of its top markets, by 11% year over year, driven by automation.

The company's profit margin dipped over the past year, which may explain the stock's pullback. Still, MercadoLibre will continue to see its margins trend higher over the long term as it expands its high-margin fintech services and invests in automation that lowers costs.

This opportunity is why the stock might be undervalued. The shares are trading at a price-to-sales multiple (P/S) of 3.1, the lowest in more than 10 years.

2. Coupang Coupang is the leader in South Korea's e-commerce market, and it's starting to show the potential to profitably expand into other countries, such as Taiwan. The stock has fallen 21% year to date and now trades at a sales multiple of about 1. This values the company at just one year of revenue but leaves attractive upside over the next several years as it grows and improves margins.

Coupang has invested billions over several years in its fulfillment network and logistics operations. It differentiates itself from a global leader like Amazon by specifically designing its service to efficiently deliver packages in densely populated cities, including tall apartment buildings. This allows the company to deliver most orders in Korea through its Rocket Delivery service within hours.

Today's Change

(

-3.15

%) $

-0.63

Current Price

$

19.20

It reported triple-digit revenue growth in Taiwan last quarter, demonstrating that its business model can be successfully adapted to other highly populated areas outside its home market.

The stock is down after fourth-quarter revenue growth decelerated to just 11% year over year -- significantly down from the previous quarter's 18%. This was caused by a data breach that stalled its momentum, as customers had to reset their passwords. But with management noting a recovery at the start of the year, this pullback appears to be a buying opportunity.

3. Airbnb Airbnb started in its founders' San Francisco apartment in 2007 and has grown into a global platform serving over 5 million hosts and more than 2.5 million guests. The stock has been range-bound the past several years, but the company has continued to grow, and the stock is now offering solid value, trading at just 18 times free cash flow.

The company is serving a growing industry. A 2025 report from the World Travel & Tourism Council showed that travel spending was expected to contribute about 10% to the global economy last year. It's a multitrillion-dollar market with ample long-term potential for Airbnb.

Today's Change

(

-0.17

%) $

-0.22

Current Price

$

133.04

Airbnb benefits from a capital-light model, generating revenue from fees, and it doesn't have to spend money on facility maintenance, like large hotel chains do. This allows management to convert its $12.3 billion in annual revenue into $4.6 billion in free cash flow, a high free-cash-flow margin of 37%.

Investments in artificial intelligence (AI) could drive margins higher. The company created a custom AI agent, which is currently handling about a third of customer support issues. And it draws on a huge pool of data, including 200 million verified identities and 500 million reviews, which competitors can't replicate.

Airbnb has a strong brand, unique destinations for guests, and solid prospects in a growing industry. Its modest valuation should set up favorable prospects for investors.

With over 450,000 sqm and 4,000 employees, GXO’s Polish operations
are its largest in Central Europe

GXO celebrated the opening of its new Central Europe headquarters in Warsaw honoring dozens of colleagues who have been with the company for more than 18 years

Poland is currently the fifth-largest logistics and warehouse market in Europe and the third largest in terms of demand, confirming its role as a key logistics hub in the region

WARSAW, Poland, March 04, 2026 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world’s largest pure-play contract logistics provider, today marked 20 years of transforming the logistics landscape in Poland, the fifth-largest logistics market in Europe. Over two decades, GXO has become synonymous with innovation and operational excellence in the region, leveraging advanced automation and deep sector expertise to deliver high-performing solutions for leading brands in ecommerce, omnichannel retail, fashion, FMCG and DIY.

“Celebrating 20 years of growth in Poland is a testament to our long-standing partnerships with our customers in all industries, led by our focus on innovation, automation and continuous improvement,” said Jean Luc Bessade, Managing Director, Poland, Czech Republic and Romania, GXO. “At GXO, we’re always looking ahead, to empower our people, elevate our customers and build innovative supply chains, as we continually raise the bar to deliver greater value and impact for our customers.”

Since commencing operations in Poland, GXO has pioneered advanced logistics solutions, including state-of-the-art warehousing, order fulfilment, returns management and factory logistics. The company’s operations are powered by adaptive technologies such as AMR robots, ProGlove and Cognex scanners, automated packaging, and integrated WMS software, ensuring seamless processes from production lines to delivery. GXO’s commitment to innovation is reflected in its ISO and BREEAM certifications and its ability to serve a wide range of sectors.

GXO’s long-standing partnerships underscore its reputation for operational excellence and customer trust. The company’s inclusion in the 2025 Forbes Diamonds list as one of Poland’s most dynamic companies is a testament to its growth and impact.

With over 4,000 employees in Poland and a team representing more than 30 nationalities, GXO fosters a diverse and inclusive workplace. The company’s culture of respect, safety, and career development is evidenced by its strong engagement rate and the long tenure of many colleagues – some with over 18 years of service. GXO’s “Career Academy” program, conducted in partnership with Koźmiński University, the University of Economics in Katowice and the University of Łódź, nurtures the next generation of logistics experts by offering classes, internships and apprenticeships.

GXO’s influence extends beyond logistics. Through ESG initiatives, charity runs, football tournaments and environmental campaigns, the company actively supports the communities where it operates. Its ongoing collaboration with logistics associations like Polish Supply Management Leaders and recognition by the Responsible Business Forum highlight GXO’s dedication to sustainable growth and industry development.

About GXO
GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is positioned to capitalize on the rapid growth of ecommerce, automation and outsourcing. GXO has over 150,000 team members across more than 1,000 facilities, totalling more than 200 million square feet. The company serves the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut. Visit GXO.com for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube.

Media contact

Anne Lafourcade
+33 (0)6 75 22 52 90

[email protected]

IP Group PLC (LSE:IPO), the London-listed science and technology investor, said portfolio company Oxa Autonomy has raised $103 million in the first close of a Series D funding round, backed by the UK's National Wealth Fund and NVentures, the venture capital arm of chip designer Nvidia.

IP Group invested £7.5 million from its own balance sheet and a further £19 million through funds it manages on behalf of Australian pension fund Hostplus, giving it a combined beneficial holding of 20.3% in Oxa.

The National Wealth Fund committed an initial $50 million to the round, with bp Ventures, the investment arm of the oil major, among the other participants.

Oxa, a self-driving vehicle software company, will use the proceeds to accelerate commercialisation of what it calls Industrial Mobility Automation, the use of autonomous driving technology to handle repetitive driving tasks in environments such as ports, airports and logistics facilities.

Greg Smith, chief executive of IP Group, said the calibre of investors in the round "underlines the growing conviction behind Oxa's leadership" in the sector, adding that the company's "universal AI driver" approach positioned it to scale across industrial vehicles and environments as adoption accelerates.

Volvo reveals their Volvo EX30 fully-electric small SUV vehicle during an event in Milan, Italy June 7, 2023. REUTERS/Claudia Greco/File Photo Purchase Licensing Rights, opens new tab

CompaniesSTOCKHOLM, March 4 (Reuters) - Sweden-based Volvo Cars (VOLCARb.ST), opens new tab said ‌on Wednesday it sold 156,965 cars in the three months through ​February, down 10% from ​the same period a year ⁠earlier, but sales of fully ​electric cars increased 18%.

"Our sales ​for the period were impacted by the continued tough market conditions, impacted ​by tariffs and unfavourable regulatory ​developments especially in the U.S.. The prolonged ‌new ⁠year holiday period in China further affected our performance," it said in a statement.

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"However, ​we are ​pleased ⁠to see steady growth in the sales of ​our fully electric cars."

Shares ​in ⁠the company, which is due to publish its first-quarter earnings ⁠report ​on April 29, ​were up 1% in early trade.

Reporting by ​Anna Ringstrom, editing by Louise Rasmussen

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Nasdaq futures lead early losses; Asian stocks sink

- Earnings Call Scheduled for 8:00 AM ET on March 24, 2026 - March 04, 2026 03:30 ET  | Source: Hesai Group

SHANGHAI, China, March 04, 2026 (GLOBE NEWSWIRE) -- Hesai Group (“Hesai,” “Hesai Technology” or the “Company”) (NASDAQ: HSAI; HKEX: 2525), the global leader in three-dimensional light detection and ranging (lidar) solutions, today announced that it will report its fourth quarter and full year 2025 unaudited financial results on Tuesday, March 24, 2026, before the U.S. market opens.

The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on March 24, 2026 (8:00 PM Beijing/Hong Kong Time on March 24, 2026).

For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call.

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://investor.hesaitech.com.

A replay of the conference call will be accessible approximately an hour after the conclusion of the call until March 31, 2026, by dialing the following telephone numbers:

United States:+1-855-883-1031International:+61-7-3107-6325Hong Kong, China:800-930-639China Mainland:400-120-9216Replay PIN:10052900   About Hesai

Hesai Technology (Nasdaq: HSAI; HKEX: 2525) is a global leader in lidar solutions. The Company’s lidar products enable a broad spectrum of applications including passenger and commercial vehicles ("ADAS"), as well as autonomous driving vehicles and robotics and other non-automotive applications such as last-mile delivery robots and AGVs ("Robotics"). Hesai seamlessly integrates its in-house manufacturing process with lidar R&D and design, enabling rapid product iteration while ensuring high performance, high quality and affordability. The Company’s commercially validated solutions are backed by superior R&D capabilities across optics, mechanics, and electronics. Hesai has established offices in Shanghai, Palo Alto and Stuttgart, with customers spanning more than 40 countries.

For more information, please visit: https://investor.hesaitech.com.

For investor and media inquiries, please contact:

Hesai Group
Yuanting “YT” Shi, Head of Capital Markets
Email: [email protected]

Christensen Advisory
Tel: +86-10-5900-1548
Email: [email protected]

Source: Hesai Group

-

SINGAPORE--(BUSINESS WIRE)--On 3 March 2026, certain primary insiders of Hafnia Limited ("Hafnia", the "Company", OSE ticker code: "HAFNI", NYSE ticker code: "HAFN") have, in total, exercised 725,019 vested options granted under the Company's ordinary long-term investment plan in accordance with its vesting schedule at an exercise price of NOK 44.11 per option, and sold a corresponding number of shares in Hafnia in the market in a joint sale through a broker.

The exercised options have been settled by the Company by transfer of treasury shares. Following the transfer, the Company holds 12,843,201 treasury shares.

For more information see the attached mandatory notifications of trade.

About Hafnia Limited:

Hafnia is one of the world's leading tanker owners, transporting oil, oil products and chemicals for major national and international oil companies, chemical companies, as well as trading and utility companies.

As owners and operators of around 200 vessels, we offer a fully integrated shipping platform, including technical management, commercial and chartering services, pool management, and a large-scale bunker procurement desk. Hafnia has offices in Singapore, Copenhagen, Houston, and Dubai and currently employs over 4000 employees onshore and at sea.

Hafnia is part of the BW Group, an international shipping group involved in oil and gas transportation, floating gas infrastructure, environmental technologies, and deep-water production for over 80 years.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

More News From Hafnia Limited

Back to Newsroom

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of BN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

1.52K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of BOLSY either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Daridorexant is a dual orexin receptor antagonist being developed in South Korea by Nxera for the treatment of adult patients with insomnia and is approved and marketed in Japan as QUVIVIQ®Phase 3 trial of daridorexant in South Korea met both primary and secondary efficacy endpoints of subjective total sleep time (sTST), subjective latency to sleep onset (sLSO) and subjective wake after sleep onset (sWASO) Tokyo, Japan and Cambridge, UK, 4 March 2026 – Nxera Pharma Co., Ltd. (“Nxera” or “the Company”; TSE 4565) announces that it has submitted a marketing authorisation application (MAA) to the Ministry of Food and Drug Safety (MFDS) in South Korea for daridorexant, a dual orexin receptor antagonist, for the treatment of adult patients with insomnia. This submission follows positive data from the Phase 3 trial of daridorexant in South Korea which met both primary and secondary efficacy endpoints (Link).

Insomnia, characterized by difficulties in sleep onset and/or sleep maintenance, impacts both physical and mental health. The condition is highly prevalent in South Korea, affecting 15-25% of the adult population, or approximately 6.5-11 million people1,2.

Mr. MinBok Lee, President and Representative Director of Nxera Pharma Korea, commented: “This submission represents a key milestone in our efforts to expand access to daridorexant in South Korea. With the medicine already approved and marketed in Japan, we look forward to sharing further progress as it advances through the regulatory review process in South Korea towards anticipated approval in 2027.”

Daridorexant is approved and marketed in Japan as QUVIVIQ® under a commercialization agreement between Nxera and Shionogi. QUVIVIQ®, discovered by Idorsia Pharmaceuticals, is marketed by Idorsia in the US, Canada, and multiple European countries, and marketed by Simcere in China and Hong Kong.

–END–

Notes to Editors

About Insomnia Disorder
Insomnia disorder is defined as difficulty initiating or maintaining sleep, causing clinically significant distress or impairment in important areas of daytime functioning. As defined this impact on sleep quantity or quality should be present for at least three nights per week, lasts for at least three months, and occurs despite an adequate opportunity to sleep.

Insomnia is a condition of overactive wake signaling and studies have shown that areas of the brain associated with wakefulness remain more active during sleep in patients with insomnia. The disorder is quite different from a brief period of poor sleep, and it can take its toll on both physical and mental health. It is a persistent condition with a negative impact on daytime functioning. Research has shown that poor quality sleep can affect many aspects of daily life, including the ability to concentrate, mood, and energy levels.

The goal of treatments for insomnia is to improve sleep quality and quantity, as well as daytime functioning, while avoiding adverse events and next-morning residual effects. Current recommended treatment of insomnia includes sleep hygiene therapy, cognitive behavioral therapy, and pharmacotherapy.

According to multiple epidemiological studies, insomnia affects around 15% to 25% of the adult population in South Korea, or approximately 6.5-11 million people1,2. The condition is notably more prevalent among women and older adults. Recent data from Korea’s Health Insurance Review and Assessment Service (HIRA) revealed that the number of chronic insomnia patients treated has increased by 21% from 597,529 in 2018 to 722,440 in 2022. Of these patients, 50% are aged 60 or above, and 61% are women.

1Epidemiology of Insomnia in Korean Adults: Prevalence and Associated Factors (Print ISSN 1738-6586 / On-line ISSN 2005-5013)
2The Prevalence and Incidence of Insomnia in Korea during 2005 to 2013 / Print ISSN 1738-3684 / On-line ISSN 1976-3026)

About the Orexin system
Wake and sleep signaling is regulated by intricate neural circuitry in the brain. One key component of this process is the orexin system, which helps promote wakefulness. There are two forms of orexin neuropeptides – small protein-like molecules used by nerve cells (neurons) to communicate with each other in the brain – orexin A and orexin B. Orexin promotes wakefulness through its receptors OX1R and OX2R. Together, these neuropeptides and receptors make up the orexin system. The orexin system stimulates targeted neurons in the wake system – leading to the release of several chemicals (serotonin, histamine, acetylcholine, norepinephrine) – to promote wakefulness. Orexin regulates wake signaling, which might be overactive at night, preventing people with insomnia from falling asleep or staying asleep. Daridorexant is a dual orexin receptor antagonist (DORA) that equipotently antagonizes orexin receptors 1 and 2, consequently decreasing overactive wake signals throughout the entire night.

About the Phase 3 study
The Phase 3 trial was a multicenter, randomized, double-blind, placebo-controlled, parallel-group trial designed to evaluate the efficacy and safety of daridorexant in adult and elderly patients with insomnia. Patients were randomized to receive daridorexant 50 mg or placebo once daily for 28 days.

The study met both its primary and secondary efficacy endpoints. At Day 28, daridorexant significantly improved the primary efficacy endpoint, the change from baseline in subjective total sleep time (sTST), compared with placebo (p<0.0001 for the 50 mg dose). Daridorexant also significantly improved the secondary efficacy endpoints, the change from baseline at Day 28 in subjective latency to sleep onset (sLSO) and subjective wake after sleep onset(sWASO), compared with placebo (both p<0.0001 for the 50 mg dose). The incidence of adverse events was comparable between the daridorexant and placebo treatment groups. The rate of treatment-emergent adverse events (TEAEs) during the double-blind treatment period was comparable between placebo and daridorexant, reported in 13.41% of patients treated with daridorexant 50 mg and 14.81% for placebo.

About Nxera Pharma
Nxera Pharma is a technology powered biopharma company in pursuit of new specialty medicines to improve the lives of patients with unmet needs in Japan and globally. The Company has built an agile, new-generation commercial business in Japan to develop and commercialize innovative medicines, including several launched products, to address this high-value, large and growing market and those in the broader APAC region. In addition, the Company is advancing an extensive pipeline internally and in partnership with leading pharma and biotech companies powered by its unique NxWave™ GPCR structure-based drug discovery platform. Nxera Pharma operates at key locations in Tokyo and Osaka (Japan), London and Cambridge (UK), Basel (Switzerland) and Seoul (South Korea) and is listed on the Tokyo Stock Exchange (ticker: 4565).

For more information, please visit www.nxera.life
LinkedIn: @NxeraPharma | X: @NxeraPharma | YouTube: @NxeraPharma

QUVIVIQ® is trademark of Idorsia Ltd.

Enquiries

Media and Investor Relations
Shinya Tsuzuki, VP, Head of Investor Relations
Maya Bennison, Communications Manager
+81 (0)3 5962 5718 | +44 (0)1223 949390 |[email protected]

MEDiSTRAVA (for International Media)
Mark Swallow, Frazer Hall, Erica Hollingsworth
+44 (0)203 928 6900 | [email protected]

Forward-looking statements
This press release contains forward-looking statements, including statements about the discovery, development, and commercialization of products. Various risks may cause Nxera Pharma Group’s actual results to differ materially from those expressed or implied by the forward looking statements, including: adverse results in clinical development programs; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialize products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialization activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Purchase of own shares

LONDON, UK / ACCESS Newswire / March 4, 2026 / The Company announces that on 03 March 2026 it purchased the following number of its ordinary shares of 20340/399 pence each through Goldman Sachs International ("GSI") on the London Stock Exchange in accordance with the authority granted by shareholders at the Company's Annual General Meeting on 8 May 2025 (the "Purchase"). The Purchase was effected pursuant to instructions issued by the Company on 17 February 2026, as announced on 17 February 2026.

Date of purchase:

03 March 2026

Aggregate number of ordinary shares purchased:

50,000

Lowest price paid per share:

$ 126.8000

Highest price paid per share:

$ 131.0000

Average price paid per share:

$ 128.9508

The Company intends to cancel the purchased shares.

Following the above transaction, the Company has 150,750,048 ordinary shares in issue (excluding 5,481,782 held in treasury).

A full breakdown of the individual purchases by GSI is included below.

http://www.rns-pdf.londonstockexchange.com/rns/2064V_1-2026-3-3.pdf

Enquiries to:

InterContinental Hotels Group PLC:

Investor Relations: Stuart Ford (+44 (0)7823 828 739); Kate Carpenter (+44 (0) 7825 655 702); Joe Simpson (+44 (0)7976 862 072)

Media Relations: Neil Maidment (+44 (0)7970 668 250); Mike Ward (+44 (0)7795 257 407)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

SOURCE: InterContinental Hotels Group PLC

VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / March 4, 2026 / Mako Mining Corp. ("Mako" or the "Company") (TSXV:MKO)(OTCQX:MAKOF) is pleased to announced that today Mako shareholders who were eligible to vote on the proposed acquisition of 100% of the membership interests of Mt. Hamilton LLC, the owner of the Mt. Hamilton project in Nevada, USA, from Sailfish Royalty Corp. ("Sailfish"), including the grant of the amended gold stream to Sailfish in consideration for the acquisition (the "Mt. Hamilton Acquisition"), overwhelmingly approved the Mt. Hamilton Acquisition.

Of the total number of Mako common shares eligible to be voted, represented at the meeting in person and by proxy (which excluded the common shares held by related parties pursuant to the requirements of the TSX Venture Exchange), approximately 99.99% were voted in favour of Mt. Hamilton Acquisition.

Full details of the Mt. Hamilton Acquisition can be found in the management information circular of Mako dated December 23, 2025, as supplemented February 14, 2026. An electronic copy of the management information circular and supplement are available under the Company's profile on SEDAR+ at www.sedarplus.ca.

About Mako

Mako Mining Corp. is a publicly listed gold mining, development and exploration company. The Company operates the high-grade San Albino gold mine in Nueva Segovia, Nicaragua, which ranks as one of the highest-grade open pit gold mines globally and offers district-scale exploration potential. Mako also owns the Moss Mine in Arizona, an open pit gold mine in northwestern Arizona. Mako also holds a 100% interest in the PEA-stage Eagle Mountain Project in Guyana, South America. Eagle Mountain is the subject of engineering, environmental and mine permitting activity.

For further information about Mako, please contact Akiba Leisman, Chief Executive Officer, at (917) 558-5289 or [email protected], or visit our website at www.makominingcorp.com and our profile on SEDAR+ at www.sedarplus.ca.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Statements in this news release, other than statements of historical facts, are forward looking statements. Forward-looking information may be identified by the use of forward-looking terminology such as "plans", "targets", "expects", "is expected", "scheduled", "estimates", "outlook", "forecasts", "projection", "prospects", "strategy", "intends", "anticipates", "believes", or variations of such terminology which states that certain actions, events or results "may", "could", "would", "might", "will", "will be taken", "occur" or "be achieved". Forward-looking information is based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made and is inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These risks include the Company not obtaining the final approval of the TSX Venture Exchange in a timely manner and the timing for completion of the Mt. Hamilton Acquisition not occurring as anticipated, as well as those risk factors set out in the Company's disclosure documents filed with the securities regulatory authorities in Canada on SEDAR+ at www.sedarplus.ca. Although Mako has attempted to identify important risk factors that could cause actual results or future events to differ materially from those contained in forward-looking information, there may be other risk factors that could cause actual results or future events to differ materially from those expressed. Accordingly, readers should not place undue reliance on forward-looking information. Mako disclaims any obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

SOURCE: Mako Mining Corp.

DASSAULT AVIATION RESULTS
CONSOLIDATED DATA

 20252024Order intakeEUR 10,941 million26 Export Rafale

31 Falcon

EUR 10,869 million30 Export Rafale

26 Falcon

Adjusted Net Sales(*)EUR 7,420 million26 Rafale
of which 15 Export and 11 France

37 Falcon

EUR 6,230 million21 Rafale
of which 14 France and 7 Export

31 Falcon

Backlogas of December 31

EUR 46,596 million220 Rafale

of which 175 Export and 45 France

73 Falcon

EUR 43,224 million220 Rafale

of which 164 Export and 56 France

79 Falcon

Adjusted operating income(*)Adjusted operating margin

EUR 635 million8.6% of net sales

EUR 519 million8.3% of net sales

Self-funded Research and DevelopmentEUR 389 million5.2% of net sales

EUR 437 million7.0% of net sales

Adjusted net income(*)Adjusted net margin

Earnings per share

EUR 1,061 million14.3% of net sales

EUR 13.60 per share

EUR 1,056 million17.0% of net sales

EUR 13.46 per share

Available cashas of December 31

EUR 9,415 millionEUR 8,434 millionDividendsEUR 371 millionEUR 4.78 per share

EUR 370 millionEUR 4.72 per share

Employee profit-sharing and incentives including 20% employer’s corresponding taxHeadcount as of Dec. 31

EUR 245 million15,024

EUR 245 million14,589

NB: - Dassault Aviation recognizes Export Rafale contracts in their entirety (including the Thales and Safran parts)
- Excluding the corporate tax surcharge in France, adjusted net income for 2025 would have been EUR 1,157 million

Main IFRS aggregates (see reconciliation table below)

(*) Consolidated net salesEUR 7,426 millionEUR 6,240 million(*) Consolidated operating incomeEUR 639 millionEUR 527 million(*) Consolidated net incomeEUR 977 millionEUR 924 million
Saint-Cloud, March 4, 2026 - At yesterday’s meeting chaired by Mr. Éric Trappier, the Board of Directors approved the 2025 statement of accounts. The audit procedures have been completed and the audit opinion is in the process of being issued.

« The military, geopolitical, and budgetary contexts, coupled with tariffs, are creating uncertainty for the business activity. At the same time, the tax pressure erodes the company’s competitiveness.

Although the French defense budget, including its “steps”, is preserved, its implementation requires a revision of the Military Programming Law. Furthermore, uncertainty remains regarding the FCAS (Future Combat Air System).

In this demanding context, the Rafale confirmed its success in 2025 with the delivery of the 300th Rafale and an order for 26 Rafale by the Indian Navy.

The post-closing decision by the Defence Acquisition Council, to enter into direct negotiations for India's acquisition of 114 Rafale, reinforces the need for the Make in India initiative, already emphasized in 2025 with the majority stake acquisition of DRAL and partnerships with companies including Tata Advanced Systems and other Indian industrial players.

In a market marked by uncertainties related to the tariffs in the United States in the first half of 2025, the Falcon activity recorded 31 orders and 37 deliveries. Competitiveness remains a key element of the business jet market.

The backlog stands at EUR 46.6 billion, including 220 Rafale and 73 Falcon.

In 2025, net sales reached EUR 7.4 billion, with 26 Rafale delivered (for a guidance of 25) and 37 Falcon (for 40 guided). Adjusted operating income amounted to EUR 635 million, up 22% compared to 2024. Adjusted net income reached EUR 1,061 million. This net income includes the EUR 96 million tax surcharge in France (excluding this surcharge, the net income would have amounted to EUR 1,157 million).

In 2025, development programs continued with:

work on the Rafale F4 standard, including the acceptance of the F4-2 standard and development of the F4-3,work on Phase 1B of the FCAS (Future Combat Air System),the Falcon 10X, the first aircraft of which is in the final stage of manufacturing,the first flights in 2025 of the ARCHANGE (Falcon 8X strategic intelligence) and ALBATROS (Falcon 2000 maritime surveillance and intervention) mission aircraft; the first ALBATROS delivery is scheduled for 2026,the VORTEX-D space demonstrator, and the launch of design and development work, supported by the French Defense Procurement Agency. Regarding our support activities, the commitment is growing, both for military aircraft, with an increasing number of Rafale deployed around the world, and for civil aircraft, with the opening of the new maintenance center in Melbourne, Florida.

Furthermore, 2025 was marked by:

the continued modernization of industrial infrastructure, particularly to ensure the Rafale production ramp-up,the continued deployment of digital solutions (3DExperience™, SAP and generative AI),strategic partnerships established for sovereign and controlled AI: collaborations with AMIAD, Thale (cortAIx), and the acquisition of a stake in Harmattan AI. In 2025, Dassault Aviation hired 1,579 people, bringing its workforce to 15,024 employees. In addition, Dassault Aviation continued its efforts in the area of decarbonization.

Our objectives for 2026 are to:

meet our Rafale and Falcon delivery commitments by reducing manufacturing cycles and hours,negotiate the 114 Indian Rafale and accelerate the “Make in India” initiative,meet development deadlines and costs of the launched developments while reducing cycles,prepare for the future of the Rafale with its F5 standard, the development of a combat drone, and the development of a future fighter,operational support and aircraft readiness: maintain the level of satisfaction of our military customers and regain a leading position in business aviation support rankings,continue export prospecting for the Rafale,achieve level of Falcon sales,continue the VORTEX development in the space sector,continue the deployment of digital technologies and the integration of AI,continue the skills development of new hires. The 2026 guidance is an increase in net sales compared to 2025, reaching the EUR 8.5 billion range (including the delivery of 40 Falcon and 28 Rafale). »

Éric TRAPPIER, Chairman and Chief Executive Officer of Dassault Aviation

1. CONSOLIDATED ORDER INTAKE

2025 consolidated order intake was EUR 10,941 million versus EUR 10,869 million in 2024. Export order intake represented 89%.

The progression is as follows, in millions of euros:

 202520242023    Defense8,2908,3096,524Defense Export7,4787,2943,583Defense France8121,0152,941    Falcon2,6512,5601,729    Total consolidated order intake10,94110,8698,253% Export89%90%64% The order intake is composed entirely of firm orders.

Defense programs

The Defense order intake 2025 totaled EUR 8,290 million, compared with EUR 8,309 million in 2024.

The Defense Export share amounted EUR 7,478 million in 2025, versus EUR 7,294 million in 2024. In 2025, 26 Export Rafale were ordered by the Indian Navy, compared to 30 Export Rafale ordered in 2024 (18 by Indonesia and 12 by Serbia).

The Defense France share amounted to EUR 812 million in 2025, compared with EUR 1,015 million in 2024.

Falcon programs

In 2025, 31 Falcon orders were recorded, compared with 26 in 2024. Falcon order intake totaled EUR 2,651 million versus EUR 2,560 million in 2024.

2. CONSOLIDATED ADJUSTED NET SALES

The 2025 adjusted net sales were EUR 7,420 million versus EUR 6,230 million in 2024. Export represented 77% of consolidated adjusted net sales.

The progression is as follows, in millions of euros:

 202520242023    Defense4,6453,9652,980 Defense Export2,9732,0161,512 Defense France1,6721,9491,468    Falcon2,7752,2651,821    Total consolidated adjusted net sales7,4206,2304,801% Export77%68%68% Defense programs

26 Rafale (15 Export and 11 France) were delivered in 2025, compared with the guidance of 25 deliveries. 21 Rafale (14 France and 7 Export) were delivered in 2024.

Defense net sales in 2025 was EUR 4,645 million versus EUR 3,965 million in 2024.

The Defense Export share was EUR 2,973 million versus EUR 2,016 million in 2024. This increase is mainly due to the delivery of 15 Export Rafale, whereas 7 Export Rafale were delivered in 2024.

The Defense France share was EUR 1,672 million versus EUR 1,949 million in 2024. This decrease is mainly due to the delivery of 11 Rafale France, compared to 14 Rafale France in 2024.

Falcon programs

37 Falcon were delivered in 2025, compared with the guidance of 40, versus 31 deliveries in 2024.

Falcon net sales for 2025 was EUR 2,775 million versus EUR 2,265 million in 2024. The increase is primarily due to the number of Falcon delivered (37 vs. 31 in 2024).

****

The book-to-bill ratio of Dassault Aviation (order intake/net sales) is 1.5x for 2025.

3. CONSOLIDATED BACKLOG

The consolidated backlog as of December 31, 2025 (determined in accordance with IFRS 15) was EUR 46,596 million, versus EUR 43,224 million as of December 31, 2024. Change in the backlog is as follows, in millions of euros:

As of December 31202520242023    Defense41,85138,20733,862 Defense Export33,76929,26523,986 Defense France8,0828,9429,876    Falcon4,7455,0174,646    Total consolidated backlog46,59643,22438,508% Export79%76%71% The backlog as of December 31, 2025 consists of the following:

Defense Export: EUR 33,769 million versus EUR 29,265 million as of December 31, 2024. This figure notably includes 175 Rafale compared with 164 Rafale as of December 31, 2024.Defense France: EUR 8,082 million versus EUR 8,942 million as of December 31, 2024. This figure mainly comprises 45 Rafale (vs 56 at the end of December 2024), the support contracts for the Rafale (Ravel), Mirage 2000 (Balzac), ATL2 (Ocean) and the Alpha Jet (Alphacare), the Rafale F4 standard and the order for phase 1B of the FCAS demonstrator.Falcon (including the ALBATROS and ARCHANGE mission aircraft): EUR 4,745 million versus EUR 5,017 million as of December 31, 2024. It includes notably 73 Falcon, compared with 79 as of December 31, 2024. Additional information on the backlog can be found in Note 24 to the consolidated financial statements.

4. ADJUSTED CONSOLIDATED RESULTS 

Adjusted consolidated operating income

Adjusted consolidated operating income for 2025 was EUR 635 million vs. EUR 519 million in 2024. This increase was mainly due to the increase in net sales.

Research and development costs, particularly for the Falcon 10X, amounted to EUR 389 million in 2025.

The adjusted consolidated operating margin stood at 8.6%, up from 8.3% in 2024, an increase of 0.3 percentage point.

The foreign exchange hedging rate was USD 1.13/EUR in 2025, vs. USD 1.14/EUR in 2024.

Adjusted consolidated financial result

Adjusted consolidated financial income for 2025 was EUR 142 million, compared with EUR 208 million in 2024, down due to the growing impact of the financing component and lower interest rates.

Adjusted consolidated net income

Adjusted consolidated net income for 2025 was EUR 1,061 million (excluding the corporate income tax surcharge in France, adjusted consolidated net income for 2025 would have been EUR 1,157 million), compared with EUR 1,056 million in 2024. Thales’ contribution to Dassault Aviation’s net income was EUR 534 million, versus EUR 507 million in 2024.

As a result, the adjusted consolidated net margin was 14.3% in 2025, versus 17.0% in 2024. This decrease is mainly due to the corporate tax surcharge in France and the lower weighting of financial income and Thales’ contribution.

Adjusted consolidated net income per share for 2025 was EUR 13.60 compared with EUR 13.46 in 2024.

5. CONSOLIDATED RESULTS UNDER IFRS

Consolidated operating income (IFRS)

Consolidated operating income for 2025 was EUR 639 million vs. EUR 527 million in 2024. This increase was mainly due to the increase in net sales.

Research and development costs, particularly for the Falcon 10X, amounted to EUR 389 million in 2025.

The consolidated operating margin was 8.6% compared to 8.4% in 2024.

Consolidated financial result (IFRS)

Consolidated financial result for 2025 stood at EUR 143 million, compared with EUR 200 million in 2024, with the increase of the financing component and lower interest rates.

Consolidated net income (IFRS)

Consolidated net income for 2025 was EUR 977 million compared with EUR 924 million in 2024 (excluding the corporate income tax surcharge in France, consolidated net income for 2025 would have been EUR 1,073 million). Thales’ contribution to Dassault Aviation’s net income was EUR 446 million, versus EUR 375 million in 2024.

As a result, consolidated net margin was 13.2% in 2025, against 14.8% in 2024.

Consolidated net income per share for 2025 was EUR 12.52 compared with EUR 11.78 in 2024.

6. AVAILABLE CASH 

Dassault Aviation uses a specific indicator called “Available cash”, which reflects the amount of total cash available to Dassault Aviation, net of financial debt. It includes the following balance sheet items: cash and cash equivalents, current financial assets and financial debt, excluding lease liabilities. The calculation of this indicator is detailed in the consolidated financial statements (see Note 9 of the December 31, 2025, consolidated financial statements).

Dassault Aviation’s available cash stands at EUR 9,415 million, versus EUR 8,434 million as of December 31, 2024. The increase in cash is mainly due to the advance payments received under the Export Rafale contracts.

7. CONSOLIDATED BALANCE SHEET

Total equity stood at EUR 6,664 million as of December 31, 2025 compared with EUR 6,332 million as of December 31, 2024, due to the results for the period.

Borrowings and financial debt stood at EUR 203 million as of December 31, 2025, compared with EUR 238 million as of December 31, 2024. Borrowings and financial debt include locked-in employees’ profit-sharing funds, for EUR 24 million, and lease liabilities, for EUR 179 million.

Inventories and work-in-progress rose EUR 727 million to EUR 7,451 million as of December 31, 2025, compared with EUR 6,724 million as of December 31, 2024. This increase was mainly due to the execution of military contracts in backlog. Advances and progress payments received on orders net of advances and progress payments paid increased by EUR 2,322 million as of December 31, 2025, due in particular to the advances received for Export Rafale contracts.

Derivative financial instruments had a market value of EUR 52 million as of December 31, 2025, compared with EUR -100 million on December 31, 2024, as a result of the change in the USD/EUR exchange rate between December 31, 2024 (USD 1.039/EUR) and December 31, 2025 (USD 1.175/EUR).

8. DIVIDENDS

The Board of Directors decided to propose to the Annual General Meeting a dividend distribution, in 2026, of EUR 4.78 per share, EUR 371 million in aggregate, representing a payout of 35%. At its meeting on March 3, 2026, the Board of Directors decided to cancel 684,288 shares. The dividend per share is calculated based on the number of shares as of December 31, 2025, netted of the number of those shares canceled.

Dividends per share over the last five years are provided in paragraph 5.2.6 of the Management Report.

It should be noted that, as part of value sharing, profit sharing and incentive schemes (including employer’s corresponding tax) in Dassault Aviation’s French entities account for an average of 35% of these companies’ 2025 income.

This Financial Release may contain forward-looking statements which represent objectives and cannot be construed as forecasts regarding the Company's results or any other performance indicator. The actual results may differ significantly from the forward-looking statements due to various risks and uncertainties, as described in the Company’s Directors’ report.

The English language version of this report is a free translation from the original, which was prepared in French language. All possible care has been taken to ensure that the translation is an accurate presentation of the original. However, in all matters of interpretation, views or opinion expressed in the original language version of the document in French take precedence over the translation.

CONTACTS:

Corporate Communication

Stéphane Fort +33 (0)1 47 11 86 90 - [email protected]

Mathieu Durand +33 (0)1 47 11 85 88 - [email protected]

Investor Relations

Louis Proisy +33 (0)1 47 11 59 51 - [email protected]

APPENDIX

1. DEFINITION OF ALTERNATIVE PERFORMANCE INDICATORS

To reflect consolidated actual economic performance, and for monitoring and comparability reasons, Dassault Aviation presents an income statement adjusted with the following elements:

gains and losses resulting from the exercise of hedging instruments, which do not qualify for hedge accounting under IFRS standards. This income, presented as financial income in the consolidated financial statements, is reclassified as net sales and thus as operating income in the adjusted income statement,the valuation of foreign exchange derivatives which do not qualify for hedge accounting, by neutralizing the change in fair value of these instruments (considering that gains or losses on hedging should only impact income as commercial flows occur), with the exception of derivatives allocated to hedge balance sheet positions whose change in fair value is presented as operating income,amortization of assets valued as part of the purchase price allocation (business combinations), known as “PPA”,adjustments made by Thales in its financial reporting. Dassault Aviation also presents the “available cash” indicator, which reflects the amount of total liquidities, net of financial debt. It covers the following balance sheet items:

cash and cash equivalents,other current financial assets,financial debt, excluding lease liabilities. The calculation of this indicator is detailed in the consolidated financial statements (see Note 9).

Only consolidated financial statements are audited by statutory auditors.

Adjusted financial data are subject to the verification procedures applicable to all information provided in the annual report.

2. IMPACT OF THE ADJUSTMENTS

The impact in 2025 of adjustments to income statement aggregates is presented below:

(in EUR thousands)2025 consolidated income statementForeign exchange derivativesPPAAdjustments applied by Thales2025 adjusted income statementForeign exchange gain/lossChange in fair valueNet sales7,425,969-6,3830  7,419,586Operating income639,231-6,38301,943 634,791Net financial income143,2256,383-7,892  141,716Share in net income of equity associates456,443   88,132544,575Income tax-261,652 2,038-321 -259,935Net income977,2470-5,8541,62288,1321,061,147Net income attributable to the owners of the Parent Company977,3930-5,8541,62288,1321,061,293Net earnings per share
(in EUR)12.52    13.60 The impact in 2024 of adjustments to income statement aggregates is presented below:

(in EUR thousands)2024 consolidated income statementForeign exchange derivativesPPAAdjustments applied by Thales2024 adjusted income statementForeign exchange gain/lossChange in fair valueNet sales6,239,708-9,9410  6,229,767Operating income527,155-9,94102,122 519,336Net financial income199,8819,941-1,872  207,950Share in net income of equity associates382,917  3,956128,149515,022Income tax-186,129 483-411 -186,057Net income923,8240-1,3895,667128,1491,056,251Net income attributable to the owners of the Parent Company923,8240-1,3895,667128,1491,056,251Net earnings per share
(in EUR)11.78    13.46 Financial Release - 2025 Results

Affirm Holdings, Inc. (AFRM) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript

Lululemon Athletica (LULU 0.97%) is a major force in the athleisure category. The clothing company and retailer has a large and growing store footprint, and yet the stock has fallen by around 40% over the past five years and is more than 60% below its high-water mark over that span. That decline has occurred despite ongoing revenue and earnings growth.

The company's former CEO, Dennis Wilson, isn't happy, and he's speaking up. In a recent letter to Lululemon's shareholders, he laid out his concerns.

Here are three key takeaways.

Image source: Getty Images.

1. Dennis Wilson is a disgruntled former employee and a big stockholder Wilson's ire has to be taken in context. Although he founded the retailer, he was ousted as CEO in 2013. It was not a pretty period for the company, and it is likely that Wilson views the current board of directors and leadership as mismanaging "his" company. That's the negative view of this situation, but it has to be considered because it can help justify a potentially adversarial approach from the board.

The flip side is that Wilson is still a large shareholder and has a legitimate concern about the stock's value. His wealth has declined materially, along with every other shareholder's. That he can complain in this way and get media attention for it means that shareholders have someone in their corner. That remains true even if Wilson's motivations go beyond those of a normal shareholder.

2. Wilson's requests aren't unreasonable Wilson's big complaint is that the board doesn't have broad enough board representation that is relevant to the company's operation. Given that he founded the company, Wilson has a deep understanding of the company and the brand he created. If he believes the board needs new blood, including members with brand, creative, and marketing skills, it is probably worth strong consideration.

Today's Change

(

-0.97

%) $

-1.71

Current Price

$

174.46

Simply put, you should think deeply about Wilson's concerns even if the company pushes back.

3. Change takes time Wilson claims that Lululemon isn't being responsive. Lululemon claims it is.

It is an ugly fight at this point, and while dramatic, nothing is likely to change in the near term. Board battles, which is what this amounts to, can drag on for a long time, and, for better or worse, Wilson is not operating from a position of strength. While he is a large shareholder, there is only so much he can do beyond complaining loudly.

In the end, Wilson's letter alone is not a reason to buy or sell Lululemon stock. However, it could help inform your thinking about the company. The stock's price-to-sales, price-to-earnings, and price-to-book value ratios are all below their five-year averages, which suggests it is cheap. However, it might be cheap for a reason.

Tokyo, Tashkent and Barcelona , March 4, 2026 – VEON Ltd. (Nasdaq: VEON), a global digital operator, and Rakuten Group, Inc. today announce that Beeline Uzbekistan, VEON’s digital operator in Uzbekistan, and Rakuten Symphony, a subsidiary of Rakuten Group, have signed a Memorandum of Understanding (MoU) to explore strategic collaborations that support the development of Uzbekistan’s fast-growing digital economy, including on Open RAN development, AI-powered network intelligence and next-generation digital platforms.

The MoU, signed at the MWC Barcelona 2026, establishes a framework to explore collaboration on areas including network deployment, optimization and development, as well as digital services, leveraging Rakuten’s software stack and platform expertise.

Under this framework, the companies will assess opportunities to deepen collaboration across priority technology areas, including Open RAN architecture, the ways that AI can deliver more sophisticated network operations, next-generation digital platforms, cloud solutions and global IoT and mobile workforce connectivity. In addition, the two companies will advance collaboration in eSIM and international roaming, leveraging Rakuten Mobile’s AI-powered, cloud-native platform and its track record in delivering integrated eSIM services at scale.

Beeline Uzbekistan serves 7.7 million mobile subscribers and more than 9 million monthly active users with digital services. The partnership combines Beeline Uzbekistan’s strong market position and leadership in driving Uzbekistan’s digital growth, with Rakuten Symphony’s experience in cloud-native networks and open, automated architectures.

“We are pleased to continue our collaboration with VEON by expanding our partnership to Beeline Uzbekistan, which champions Uzbekistan’s digital growth with investments into network and digital services, supporting the national digital economy,” said Sharad Sriwastawa, President, Rakuten Symphony. “This partnership demonstrates both organizations’ commitment to advancing the national digital infrastructures with open, AI-ready software and connectivity solutions that will futureproof national telecom networks. We look forward to supporting Beeline Uzbekistan’s next steps in its digital journey.”

"Uzbekistan is on an ambitious path to becoming a digital economy leader in Central Asia, and we at Beeline Uzbekistan are committed to building the infrastructure and platforms that make this possible,” said Andrey Pyatakhin, CEO of Beeline Uzbekistan. “In collaboration with Rakuten Symphony, we will explore how cloud-native network architectures and AI-driven automation can accelerate our services and deliver better digital experiences for our customers. With this, we are building on the investments we have made in our Network Operations Center, our digital services ecosystem, and our new software company BuildX."

“We are excited to build the digital infrastructure and services that power Uzbekistan's economic growth and look forwarding to exploring collaborations with Rakuten across various areas,” said Kaan Terzioglu, VEON Group CEO, who joined the signing ceremony in Barcelona. “Extending our collaboration with Rakuten to Uzbekistan, following our Ukraine and Kazakhstan operations earlier, demonstrates the scalability of VEON’s approach in bringing cutting-edge technology partnerships to high-growth emerging markets that we proudly serve.”

Today’s announcement builds on the Rakuten-VEON partnership initially launched in 2023. Kyivstar Group and Beeline Kazakhstan, two other VEON Group Companies, are already partnering with Rakuten in Ukraine and Kazakhstan to explore collaboration on Open RAN and other digital cooperation opportunities.

About VEON
VEON is a digital operator that provides connectivity and digital services to nearly 150 million connectivity and 140 million digital users. Operating across five countries that are home to more than 6% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information, visit: https://www.veon.com. 

About Beeline Uzbekistan
Unitel LLC (doing business as “Beeline Uzbekistan”) has been operating as a digital operator under the Beeline Uzbekistan trademark since September 2006. Beeline Uzbekistan is a part of VEON Group and a Certified Top Employer in 2024, 2025 and 2026. Beeline Uzbekistan has more than 2,000 employees.

About Rakuten
Rakuten Group, Inc. (TSE: 4755) is a global technology leader in services that empower individuals, communities, businesses and society. Founded in Tokyo in 1997 as an online marketplace, Rakuten has expanded to offer services in e-commerce, fintech, digital content and communications to 2 billion members around the world. The Rakuten Group has around 30,000 employees, and operations in 30 countries and regions. For more information visit https://global.rakuten.com/corp/.

About Rakuten Symphony
Rakuten Symphony is changing supply chain norms and disrupting outmoded thinking that threatens the industry’s pursuit of rapid innovation and growth. Based on proven modern infrastructure practices, its open interface platforms make it possible to launch and operate advanced services in a fraction of the time and cost of conventional approaches, with no compromise to network quality or security. Rakuten Symphony has operations in Japan, the United States, Singapore, India, South Korea, Europe and the Middle East Africa region.  For more information about Rakuten Symphony's offerings, please visit: https://symphony.rakuten.com.

Forward-Looking Statements Disclaimer
This release contains “forward-looking statements”, as the phrase is defined in U.S. securities laws. The forward-looking statements in this release, including those related to VEON’s and its subsidiaries’ Rakuten Symphony partnerships, involve risks, uncertainties and other factors which could cause actual results and performance to differ materially from those expressed by such statements. These risks include those relating to uncertainty over success of our strategic initiatives, among others discussed in our Annual Report on Form 20-F filed on April 25, 2025. The forward-looking statements contained herein speak only as of the date of this release and VEON disclaims any obligation to update them, except as required by U.S. federal securities laws.

Contact Information 
VEON
Hande Asik
Chief Strategy and Communications Officer
[email protected]

VEON’s Beeline Uzbekistan and Rakuten Symphony Partner for Open RAN, AI Collaboration

VEON’s Beeline Uzbekistan and Rakuten Symphony Partner for Open RAN, AI Collaboration Beeline Uzbekistan CEO Andrey Pyatakhin (left) and Rakuten Symphony President Sharad Sriwastawa (rig...

Ericsson has published its Annual Report 2025. The report summarizes the company's financial and sustainability performance for the year, and provides an overview of its strategy, governance, and remuneration of the President and CEO and the Executive Vice President.  The Annual Report 2025 comprises Ericsson's Financial Report including the Sustainability Statement, the Corporate Governance Report, and the Remuneration Report. , /PRNewswire/ -- The Sustainability Statement in Ericsson's (NASDAQ: ERIC) Annual Report is prepared in accordance with the European Sustainability Reporting Standards (ESRS) and can be found on pages 95-141 in the Financial report.

The Annual Report 2025 can be downloaded in English at https://www.ericsson.com/en/investors and in Swedish https://www.ericsson.com/sv/investors on Ericsson's website. The Swedish version is also available in the European Single Electronic Format (ESEF) on Ericsson's website.

Printed copies of the Annual Report 2025 will be available for order by filling in the form on this page: https://www.ericsson.com/en/investors/financial-reports/order-annual-report

For further information, please visit the Investor Relations pages: https://www.ericsson.com/en/investors

NOTES TO EDITORS:

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MORE INFORMATION AT:
Ericsson Newsroom
[email protected] (+46 10 719 69 92)
[email protected] (+46 10 719 00 00)

FOR FURTHER INFORMATION, PLEASE CONTACT:

Investors
Daniel Morris, Vice President, Head of Investor Relations
Phone: +44 7386 657217
E-mail: [email protected]

Lena Häggblom, Director, Investor Relations
Phone: +46 72 593 27 78
E-mail: [email protected]

Alan Ganson, Director, Investor Relations
Phone: +46 70 267 27 30
E-mail: [email protected]

Media

Ralf Bagner, Head of Media Relations
Phone: +46761284789
E-mail: [email protected] 

Media Relations
Phone: +46 10 719 69 92
E-mail: [email protected]

ABOUT ERICSSON:

Ericsson's high-performing networks provide connectivity for billions of people every day. For 150 years, we've been pioneers in creating technology for communication. We offer mobile communication and connectivity solutions for service providers and enterprises. Together with our customers and partners, we make the digital world of tomorrow a reality. www.ericsson.com

This information is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the Swedish Securities Markets Act. The information was submitted for publication at 08:00 AM CET on March 4, 2026.

This information was brought to you by Cision http://news.cision.com

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SOURCE Ericsson

Sales revenue at the subsidiary of Volkswagen fell 7%, while unit sales declined 9% to 305,500 vehicles.

Q4: 2026-03-03 Earnings SummaryEPS of $0.01 misses by $0.02

 |

Revenue of

$90.30M

(14.38% Y/Y)

beats by $718.57K

Evolus, Inc. (EOLS) Q4 2025 Earnings Call March 3, 2026 4:30 PM EST

Company Participants

Nareg Sagherian - Head of Global Investor Relations & Corporate Communications
David Moatazedi - President, CEO & Director
Tatjana Mitchell - Chief Financial Officer
Rui Avelar - Chief Medical Officer and Head of Research & Development

Conference Call Participants

Annabel Samimy - Stifel, Nicolaus & Company, Incorporated, Research Division
Alyssa Larios - Leerink Partners LLC, Research Division
Uy Ear - Mizuho Securities USA LLC, Research Division
Navann Ty Dietschi - BNP Paribas, Research Division
Sam Eiber - BTIG, LLC, Research Division
Douglas Tsao - H.C. Wainwright & Co, LLC, Research Division
Serge Belanger - Needham & Company, LLC, Research Division

Presentation

Operator

Good afternoon, everyone, and thank you for standing by. Welcome to Evolus' Fourth Quarter and Full Year 2025 Earnings Conference Call. [Operator Instructions] As a reminder, today's conference call is being recorded and webcast live. [Operator Instructions]

I'd like to turn the conference call over to Nareg Sagherian, Vice President and Head of Global Investor Relations and Corporate Communications. Please go ahead.

Nareg Sagherian
Head of Global Investor Relations & Corporate Communications

Thank you, operator, and welcome to everyone joining us on today's call to review Evolus' Fourth quarter and full year 2025 financial results. Our fourth quarter and full year 2025 press release is now on our website at evolus.com. With me today are David Moatazedi, President and Chief Executive Officer; and Tatjana Mitchell, Chief Financial Officer. Rui Avelar, Chief Medical Officer and Head of R&D, is also with us for the Q&A portion of the call.

Today's call will include forward-looking statements. Actual results may differ materially due to risks and uncertainties outlined in our earnings press release and SEC filings. These forward-looking statements are based on current assumptions, and we undertake no obligation to update them. Additionally, we will discuss certain non-GAAP

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